that level will not hold. I warned people about how jerry-rigged this market has been due to the FED and I am 100% right.
China is just part of the story.
once oil's effect ripples through the world 3-6 months from now you will wish you sold stocks last year ( I don't mean you, just people who kept saying all was well)
just wait until Exxon and Chevron cut their dividends, they will have no choice if we hit $20's or stay in $30's for prolong period.
the FED should be embarrassed at what they have created since I would say late 2010, early 2011. rates should have gone up in late 2011-early 2012, but nope.
once the 200 day moving average breaks on S& P 500, it will be too late.
as for me, I am 31 so I am long in all my positions because I have time on my side, but there will be major selling coming soon.
Artificial market showing cracks, China, well that is just another issue altogether
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